I am at the age of 24 and my family has been really successful in real estate. The question i have because I want to hear your thoughts is My dads saying is "if it cashflows on a fixed 15 year fixed mortgage after (20-25% down) including taxes, insurance, and HOA, Its a good buy! That excludes taking into account vacancies, and upkeep maintance. So with that advise I have now purchased 4 propterties (2 townhomes, 1 fourplex, 1 home). My brother and i are buisness partners and split everything 50/50. We manage all our properties by our selves as well.
townhome #1-mortgage+insurance+taxes + HOA=876, RENTS FOR 1,000
townhome #2-mortgage + insurance + taxes + HOA=890, RENTS FOR 1,000
fourplex-Mortgage + Insurance + taxes +water&sewer=2,200, RENTS FOR 2,700
home-Mortgage + HOA=1,950, RENTS FOR 2,200
payment for all mortgages=5,916
In saying all this, all properties are on a 15 year fixed mortgage. I have been reading your blog and haven't see anything about wither to put rental properties on 15 year or 30 loans????
WHAT ARE YOUR THOUGTS????